Four Programs You can Choose From to Get Your Very First Credit Card

Students and minors often find it difficult to get approved for their very first credit cards. After all, they do not have credit records to present to their prospective issuers when they attempt to apply for regular credit card programs. Aside from this, most teen-age card applicants do not have stable jobs that they can use to guarantee the immediate repayment of whatever debts they might be incurring.

Still, it is possible for students and teenagers to get the credit cards they need. There are actually four card programs available to first-time cardholders. Through these card options, students and minors can gain access to business establishments that rely solely on card transactions. Not only that. Through their very first credit cards, young consumers can successfully launch their credit reputation which paves the way for a bright financial future.

So, what are these four card programs open to students and first-time cardholders? Let us discuss them one-by-one.

Four Card Options For First-Time Cardholders – First Credit Card

1. Credit card for students. Teen-age card applicants can get approved to use credit card for students. However the main requirement for this student credit card program is that the applicant must be currently enrolled in a college or in a university. Now what should a student consider before applying for and in using a credit card for students?

Well, a student needs to remember to apply only for the student credit card that possesses the lowest possible interest rates and fees, and the most flexible payment terms. And after he gets approved for a credit card for students, he must resolve to use his card in the most responsible way he can. He also needs to stick to just one card, so that he can avoid running large credit card balances which will prove very difficult to pay off.

2. The bank where you opened checking or savings account. If you have a savings or checking account with a bank, then you can approach the customer service representative of your bank, and ask about the possibility of opening up your first credit card. Having an existing relationship with your bank can improve your chances of getting your credit card application approved, so long as you have been responsible in managing your bank account.

3. A department store or gas card. Department stores and gas companies usually have easy approval credit cards. Through their quick approval system, you can immediately get the credit card you need for you to make purchases and pay off your monthly bills. However, these credit card have one big downside. Your card will charge a very high interest rate and this can cost you a lot, especially when you decide to carry a credit balance from one month to the next.

4. A secured credit card. Even if you lack credit history, you can still get approved for a secured credit card. You just need to submit all the relevant documents, pay the charges and fees to activate your card, and provide a monetary deposit that will serve as collateral for the usage of your credit card. And soon enough you can have the secured card you can use in making purchases and even reservations in commercial establishments that depend on card transactions.

We hope that this article helped you see the credit card options that you can take advantage of should you want to get and use your very first credit card.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit card articles that would help build student credit.

Copyright 2010

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